How to run an open house

Ok so you’ve decided to have an open house, and you’ve thoroughly prepared – what more do you need to do to make sure it’s successful? Firstly, you should emotionally prepare. You may get many people at your open house – or you may get none. If you don’t get any visitors, don’t be discouraged, instead carefully review your listing, and also go back over our steps to prepare for an open house to help you figure out what went wrong.

When it’s time for the open house to start you should have everything ready and be present. People should be able to walk straight in upon arrival. Make sure you are present for the entire duration that you advertised the property would be open for.

When people do arrive, you should have a sign in sheet for them. Try to get as many people as possible to fill this out with the basic contact details. This will allow you to follow up with each person who has been through the property.

Once people are inside, you shouldn’t just stand there. Be friendly and develop a rapport with them. Be on hand to answer any questions that they may have, and to point out some of your property’s best features that might otherwise go unnoticed.

You can also use this time to qualify buyers. This just means asking questions about their ability to buy the property. Do they have finance pre-approved? Do they need to sell their property before they can buy yours? And so on. Don’t be shy about asking these questions, every agent asks them.

Whilst talking to buyers be sure to listen to any feedback you’re given. Not all feedback will necessarily be “right” – but buyers are entitled to their opinions. At worst, their feedback can give you an insight into how your property is viewed through their eyes, which can help you make your marketing more effective. At best, feedback can help you address an issue which may have stopped someone from purchasing in the future. Make sure that when you listed to feedback to stay neutral about it, as hard as this can be.

As people leave the open house you should ensure that they take a reminder with them. A simple one page flyer or postcard will suffice. This should summarise your property’s key features, price, address, and list your direct contact details. This is also another opportunity to incentivise buyers. Something as simple as taping a wrapped mintie or boiled lolly to the flyer can ensure buyers tak ea flyer and will help your property stand out in their memory.

Lastly, make sure you follow up your buyers. You could ask them to indicate on the signin sheet if they prefer email or phone contact. If possible, phone is best. A simple call a week later to ask for their impression of the property can go a long way. If they’re not interested right now, you can also ask them if they’d like to be advised of any price reductions, or offers on the property.

Let us know how your first open house went, and if you have any extra recommendations for other sellers.